topic I transferred my mom’s house and put it in my name how do I do this with my taxes this year in Deductions & credits

I transferred my mom’s house and put it in my name how do I do this with my taxes this year

hospital86 — Mon, 23 Feb 2026 10:56:48 GMT

Re: I transferred my mom’s house and put it in my name how do I do this with my taxes this year

Mike9241 — Wed, 11 Jan 2023 16:52:11 GMT

a personal residence is not entered on your tax return. if you itemize your deductions you get a deduction for the mortgage interest and taxes you paid.

"transferred" would indicate you paid nothing for it. your tax basis is her tax basis and since the house was probably worth more than $16000 a gift tax return needs to be filed by mom.

Re: I transferred my mom’s house and put it in my name how do I do this with my taxes this year

Anonymous_ — Wed, 11 Jan 2023 16:55:34 GMT

Is there a rationale for transferring your mom's house into your name?

Did you add your name to title or transfer the entire interest?

These types of actions can have adverse effects so might want to consult with local legal counsel.

See https://www.avvo.com/estate-planning-lawyer.html

Re: I transferred my mom’s house and put it in my name how do I do this with my taxes this year

MarilynG1 — Wed, 11 Jan 2023 17:05:58 GMT

If your mother is deceased, and you transferred the title to yourself after inheriting the home, your 'basis' in the home would be the FMV (full market value) at the time of her death.

You don't have to report anything on your taxes until you sell the home, other than claiming a deduction for mortgage interest and property tax you paid after the transfer.

If this applies, click this link for details on How to Report the Sale of an Inherited Home.

If she is not deceased, your 'basis' in the home (when you sell it) would be her basis at the time of transfer (what she paid for the home, plus value of improvements). Again, you would not need to report anything on your taxes until you sell the home, other than claiming the interest and taxes.